Law Firm Revenue Up in 2017, Survey Finds

Law firm revenue rose 5.6 percent in the first six months of 2017, according to a survey released Monday by Wells Fargo Private Bank’s Legal Specialty Group.

“I thought that the mid-year report would have been a little softer than what the numbers support,” said Joe Mendola, senior director of sales at Wells Fargo Private Bank, who added he is “optimistic” that the year will finish strongly.

He attributed the higher revenue to increases in billing rates and demand, as detailed below. The only segment that saw a drop in demand was the AmLaw 200 firms. Mendola said this is not ...